Tax status changes for companies

Abuela

Abuela

Bronze
May 13, 2006
1,954
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The Tax Agency (DGII) is giving companies six months to complete the procedures to move to new company structures approved by the government. The changes were ordered in Law 479-08 but the government has been lax in enforcing compliance.

In today's news is the item about the company changes referring to the deadline for companies changing from an SA to an SRL?
 
M

Mauricio

Gold
Nov 18, 2002
5,607
7
38
Probably C por A to SRL or EIRL.
S.A is still an option and another option is for example SAS.
 
A

Alfredo Guzman

Member
Apr 30, 2006
193
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www.drlawyer.com
This 6-month deadline from the DGII (DR IRS) affects all old S.A.'s and C. Por A.'s who have yet not been converted into LLC's (SRL), Simplified corporations (SAS) or
sole proprietorships (EIRL), or have not adjusted to the new corporations' (S.A.)framework, all in accordance to new company law 479-08, as amended by Law 31-11.

Come deadline DGII will inactive said non-complying companies from their registries. In order to re-activate the company you would have to pay a fine at the DGII and have the
company up to date as per above. If your company is still not up to date we strongly suggest that you proceed immediately (the process takes around 2-3 months).
The re-activation fine alone is ~US$560, not to mention all the taxes, interests and penalties which would accrue during the inactivation period against the Co.
 
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